Specifically, a decentralized, distributed one.Ī key lesson from the panel for both blockchain brigadiers and the NFT-curious alike, as well as a reason to be bullish about the future no matter where the market trendline goes? The fact that when a crypto project flops, it’s not the fault of the medium, just as the dot-com crunch wasn’t the fault of the internet - or worse, some damning evidence it was a fad. No, this conversation - officially titled “Disrupting, Reimagining, & Crushing It!” - was ultimately the kind that had you feeling fairly shot out of a cannon. “There’s a giant crash to this market coming,” Rubin concurred, insisting such a thing is inevitable given the sheer volume of NFTs getting minted left and right with no prevailing best practices regarding quality control or long-term value add.īut this was not meant to be some sad-sack recriminations summit Boston already held one of those after Tom Brady signed with the pirate ship team. Sitting opposite Fanatics CEO Michael Rubin and moderator Jessica Gelman, the CEO of Kraft Analytics Group, Gary Vee explained that the hyped and oversaturated market for non-fungible tokens resembles the 1990s tech boom that saw countless dot-coms receive 11-figure valuations before they’d even feigned an attempt at e-commerce. in the conversation that opened the 2022 edition of Daryl Morey’s ComicCon for VORP evangelists otherwise known as the MIT Sloan Sports Analytics Conference. It was a hell of a statement to utter before 9 a.m. “98% of NFT projects are going to go to zero, or close to it,” the Chairman of VaynerX said.

Gary Vaynerchuk had to go and rip the Band-Aid off.

Here’s why crypto enthusiasts shouldn’t freak out. The two moguls opened up the 2022 Sloan Sports Analytics Conference with tough love on the state of the NFT market.

We need to go deeper crashing